School bond issue settled

October 04, 2016

Council approves $30 million sale

After several weeks of debate, Council approved selling $30 million in bonds to pay the city’s share for a new high school and Community Learning Center. The new school, the last that the state will help fund, will replace both Kenmore and Garfield High Schools, but how that will be accomplished has yet to be decided. Six options are still being considered by the school board. Council also approved issuing bonds to refund more than $60 million in bonds previously issued. With lower interest rates now available, the refinancing will save the city more $3.5 million over the life of the bonds. 

Oct 3, 2016 from Akron City Council on Vimeo.